ISTANBUL Nov 30 The Turkish central bank's
decision to hike interest rates this month was a "technical
requirement" and, Economy Minister Nihat Zeybekci said on
Wednesday, adding he did not fault the bank for the move.
Zeybekci also said in a speech in Ankara that he
nevertheless remained opposed to higher interest rates.
President Tayyip Erdogan has repeatedly called on the bank to
lower rates, to spur spending and boost a flagging economy.
Turkey's central bank this month raised rates for the first
time in nearly three years, hiking its benchmark rate by 50
basis points to prop up a tumbling lira.
(Reporting by Nevzat Devranoglu; Writing by David Dolan;
Editing by Humeyra Pamuk)